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This report delivers a comprehensive econometric analysis of the African contemporary art market, focusing on five strategically selected artists : Julie Mehretu, Amoako Boafo, Chéri Samba, Wangechi Mutu, and Zanele Muholi. Drawing on 1,452 auction transactions, the study applies institutional-grade financial methodologies to map risk-return profiles, price dynamics, and market concentration across the segment. The analysis extends beyond secondary market data to include a structured assessment of primary market positioning : gallery representation, institutional collections, art fair presence, and critical visibility.
Key findings include :
- A market that grew from USD 35M (2016) to USD 101M (2021), now stabilising at USD 72M post-correction
- Female artists now account for 52.8% of African contemporary auction sales
- Sell-through rates ranging from 47% to 89% across the five artists, revealing fundamentally different liquidity profiles
- A 14x price density differential between the highest and lowest-valued artists
- Hammer Price Ratios reaching 3.73x for one artist, signalling persistent demand above estimates
The full 25-page report includes artist-by-artist breakdowns, Sharpe Ratio analysis, auction house tier segmentation, medium-specific performance, and a 2026 outlook with identified catalyst events.
The reports published by Cabinet Sévigné are intended solely for informational purposes. They do not constitute investment advice, a recommendation to buy or sell, or an inducement to carry out any transaction. The analyses presented are based on publicly available data and proprietary methodologies, with no guarantee as to their completeness or accuracy. Any decision made on the basis of this information is the sole responsibility of the reader. Cabinet Sévigné accepts no liability for any financial losses or damages resulting from the use of these reports.
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